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Karpus Investment Management Portfolio holdings
AUM
$3.48B
Turnover
20.16%
1-Year Est. Return
10.49%
This Fund
S&P 500
This Quarter
Est. Return
+2.09%
1 Year Est. Return
+10.49%
3 Year Est. Return
+24.71%
5 Year Est. Return
+15.24%
10 Year Est. Return
+55.85%
AUM
$1.95B
AUM Growth
-$250M
(-11%)
Cap. Flow
-$290M
Cap. Flow
% of AUM
-14.88%
Top 10 Holdings %
Top 10 Hldgs %
29.22%
Holding
203
New
14
Increased
56
Reduced
81
Closed
35
Avg Time Held
1.7
years
Top 10 Avg Time Held
1.2
years
Top 20 Avg Time Held
1.3
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Nuveen AMT-Free Municipal Credit Income Fund
NVG
|
+$25.2M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$18.6M |
| 3 |
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
SHM
|
+$15.3M |
| 4 |
iShares Currency Hedged MSCI Japan ETF
HEWJ
|
+$14.2M |
| 5 |
EACQ
Easterly Acquisition Corp
EACQ
|
+$9.84M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ACG
AllianceBernstein Income Fund Inc
ACG
|
+$154M |
| 2 |
FDI
FORT DEARBORN INCOME SECS
FDI
|
+$20.3M |
| 3 |
ZF
Virtus Total Return Fund Inc.
ZF
|
+$19.9M |
| 4 |
NMA
NUVEEN MUNI ADVANTAGE FUND
NMA
|
+$18.8M |
| 5 |
Invesco Municipal Trust
VKQ
|
+$17.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 91.65% |
| 2 | Financials | 5.33% |
| 3 | Industrials | 1.22% |
| 4 | Energy | 1.03% |
| 5 | Consumer Staples | 0.36% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Vanguard S&P 500 ETF
VOO
$1.05T
| $118M | 6.06% |
614,486
-78,880
| -11% | -$15M |
2013 Q2
12 quarters
|
|
2
BlackRock Income Trust
BKT
$312M
| $70.4M | 3.61% |
3,539,691
-112,195
| -3% | -$2.21M |
2013 Q2
12 quarters
|
|
3
Vanguard FTSE Europe ETF
VGK
$29.7B
| $63.1M | 3.24% |
1,353,104
+201,186
| +17% | +$9.77M |
2013 Q2
12 quarters
|
|
4
Vanguard Morningstar Small-Cap ETF
VB
$77.9B
| $53.8M | 2.76% |
465,228
+1,225
| +0.3% | +$139K |
2013 Q2
12 quarters
|
|
|
5
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
SHM
$3.49B
| $50.2M | 2.57% |
1,022,352
+312,149
| +44% | +$15.3M |
2013 Q2
12 quarters
|
|
6
General American Investors Company
GAM
$1.54B
| $45.5M | 2.33% |
1,476,456
-30,610
| -2% | -$950K |
2013 Q2
12 quarters
|
|
7
Adams Diversified Equity Fund
ADX
$3.22B
| $45M | 2.31% |
3,554,440
+9,174
| +0.3% | +$116K |
2013 Q2
12 quarters
|
|
8
Nuveen Municipal Credit Income Fund
NZF
$2.15B
| $41.8M | 2.14% |
2,625,632
-6,435
| -0.2% | -$99.5K |
2013 Q2
12 quarters
|
|
9
Liberty All-Star Equity Fund
USA
$1.84B
| $41.6M | 2.13% |
8,287,849
+75,916
| +0.9% | +$379K |
2013 Q2
12 quarters
|
|
|
10
Nuveen AMT-Free Municipal Credit Income Fund
NVG
$2.34B
| $40M | 2.05% |
2,460,357
+1,608,233
| +189% | +$25.2M |
2013 Q2
12 quarters
|
|
|
ICB
11
DELISTED
Morgan Stanley Income Sec. Inc
ICB
| $38M | 1.95% |
2,072,080
+435,421
| +27% | +$7.89M |
2013 Q2
12 quarters
|
|
12
BlackRock Credit Allocation Income Trust
BTZ
$880M
| $37.4M | 1.92% |
2,869,027
+32,157
| +1% | +$409K |
2013 Q2
12 quarters
|
|
13
Gabelli Equity Trust
GAB
$1.79B
| $36.5M | 1.87% |
6,851,753
-1,952,851
| -22% | -$10.4M |
2014 Q3
7 quarters
|
|
|
FAM
14
DELISTED
First Trust/abrdn Global Opportunity Income Fund
FAM
| $34.5M | 1.77% |
3,014,331
+172,502
| +6% | +$1.9M |
2015 Q3
3 quarters
|
|
15
TRI-Continental Corp
TY
$1.84B
| $33.4M | 1.72% |
1,627,885
-364,084
| -18% | -$7.37M |
2013 Q2
12 quarters
|
|
|
MIN
16
Aberdeen Intermediate Income Fund
MIN
$267M
| $33.2M | 1.71% |
1,193,920
-35,104
| -3% | -$971K |
2014 Q4
6 quarters
|
|
|
NQS
17
DELISTED
NUVEEN SELECT QUALITY MUNI FD
NQS
| $32.5M | 1.67% |
2,091,511
+539,202
| +35% | +$8.16M |
2013 Q2
12 quarters
|
|
18
Vanguard FTSE Pacific ETF
VPL
$8.55B
| $29.9M | 1.54% |
537,216
+72,514
| +16% | +$4.05M |
2013 Q2
12 quarters
|
|
|
19
State Street SPDR S&P 500 ETF Trust
SPY
$815B
| $26.5M | 1.36% |
126,615
+89,720
| +243% | +$18.6M |
2013 Q2
12 quarters
|
|
20
Vanguard Morningstar Total Stock Market ETF
VTI
$697B
| $25.5M | 1.31% |
237,952
+23,906
| +11% | +$2.53M |
2014 Q1
9 quarters
|
|
21
SRH Total Return Fund
STEW
$1.72B
| $24.9M | 1.28% |
3,062,309
-58,893
| -2% | -$470K |
2013 Q2
12 quarters
|
|
|
CXH
22
DELISTED
MFS Investment Grade Municipal Trust
CXH
| $24.3M | 1.25% |
2,300,942
-13,025
| -0.6% | -$135K |
2013 Q2
12 quarters
|
|
23
Vanguard Total Bond Market
BND
$163B
| $24.1M | 1.24% |
286,036
+63,449
| +29% | +$5.27M |
2014 Q1
9 quarters
|
|
24
Virtus Total Return Fund
ZTR
$312M
| $23.5M | 1.21% |
1,956,478
-1,133,183
| -37% | -$13.7M |
2013 Q2
12 quarters
|
|
25
BlackRock Core Bond Trust
BHK
$601M
| $23.3M | 1.2% |
1,669,709
-632,025
| -27% | -$8.59M |
2013 Q2
12 quarters
|
|
Similar funds
TCG
TC
ATC
NBS
JIC
Karpus Investment Management's Q2 2016 Portfolio in Review
As of Q2 2016, Karpus Investment Management held 203 positions worth $1.95B, down 11% from $2.2B the previous quarter. Its ten largest holdings account for 29% of the portfolio.
Karpus Investment Management withdrew a net $290M in Q2 2016, closing 35 positions and reducing 81 holdings. Its most notable exit was AllianceBernstein Income Fund Inc, an estimated $154M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 92% of assets, up from 85% a quarter earlier, followed by Financials and Industrials.
Against the trend, Karpus Investment Management opened a new position in iShares Currency Hedged MSCI Japan ETF worth $13.4M.
- Karpus Investment Management's largest Q2 2016 buy was iShares Currency Hedged MSCI Japan ETF: 574,480 shares worth $13.4M.
- Karpus Investment Management added most to Nuveen AMT-Free Municipal Credit Income Fund in Q2 2016, an estimated $25.2M increase.
- Karpus Investment Management's biggest Q2 2016 reduction was Virtus Total Return Fund Inc., cutting an estimated $19.9M.
- Karpus Investment Management fully exited AllianceBernstein Income Fund Inc in Q2 2016, selling an estimated $154M.
- Karpus Investment Management's ten largest holdings make up 29% of its $1.95B portfolio in Q2 2016.
- Karpus Investment Management opened 14 new positions and closed 35 in Q2 2016.
- Karpus Investment Management's portfolio value fell 11% quarter-over-quarter to $1.95B.
Based on Karpus Investment Management's 13F filing for Q2 2016, filed 15 Aug 2016.